Question to the HM Treasury:

To ask His Majesty's Government what assessment they have made of the rise in long-term borrowing costs, and what steps they are taking to mitigate further growth of those costs.

The government does not comment on specific market moves.

As the Governor of the Bank of England recently noted, the underlying driver of recent moves in yield curves is global. This means it is more important than ever to have fiscal rules that provide stability.

Sound public finances are essential to economic and financial stability and delivering economic growth. That is why we will continue to meet this government’s non-negotiable fiscal rules.